Dead Island

Dead Island is a First person Survival Horror, Open world video game in development by Techland for Microsoft Windows, Xbox 360 and PlayStation 3, scheduled for a late 2011 release. It is centered on the challenge of survival on a zombie-infested island with a major emphasis on melee combat rather than traditional First-person shooter action.

Dead Island will feature open world gameplay, played from a first person perspective, with up to four-player co-operative play. The focus will be on melee combat, incorporating customizable weaponry and RPG elements. The game is set in the Royal Palms Resort, in fictional Banoi, located in Papua New Guinea.[1]

Heres a link the the gamespot preview, Link but basically this is a mix between L4D2 and Dead Rising.1. Its open-world on an Island so better then L4D and DR2. Its a 4 player multiplayer with a drop in drop out functionality, better then dead rising although less the L4D by the sounds of it no versus mode 3. It sounds brutal, check the third video and the GS preview

The trailer is a very well done emotional one but I doubt it will match the story at all, it think its just a very good marketing plot.